Form 4: Hess Midstream LP: Global Infrastructure Investors II, LLC Transfers and Cancels Class B Shares

Global Infrastructure Investors II, LLC reports the transfer and cancellation of Class B shares and Opco Class B Units of Hess Midstream LP.

Summary

• Global Infrastructure Investors II, LLC, along with related entities, filed a Form 4 detailing changes in beneficial ownership of Hess Midstream LP securities.
• On June 26, 2024, 1,699,581 Class B Shares were transferred from Hess Midstream GP LP to GIP II Blue Holding, L.P. for no consideration.
• Simultaneously, 1,699,581 Class B Shares were cancelled in connection with Hess Midstream Operations LP's repurchase of 1,699,581 Opco Class B Units from Blue Holding.
• Following these transactions, Blue Holding holds 46,353,019 Class A Shares.
• The Opco Class B Units are convertible into Class A Shares on a one-to-one basis.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing share transfers and cancellations, indicating a neutral sentiment.

Industry Context

This Form 4 filing reflects changes in ownership structure within Hess Midstream LP, a common occurrence in publicly traded partnerships. The transfer and cancellation of shares likely relate to internal restructuring or capital management activities.

Related Party Transactions

• The transfer of Class B Shares from Hess Midstream GP LP to GIP II Blue Holding, L.P. is a related party transaction.

Stakeholder Impact

• The transfer and cancellation of shares may have a minor impact on shareholders, primarily affecting the ownership structure.

Key Dates